Sauber rules out aping Williams' stock market move

Peter Sauber has played down claims his Swiss Formula One could follow Williams' lead by floating shares on the stock market. Williams, which like Sauber is a fully independent team, announced recently that a floatation is the "best way to secure"...

Peter Sauber has played down claims his Swiss Formula One could follow Williams' lead by floating shares on the stock market.

Williams, which like Sauber is a fully independent team, announced recently that a floatation is the "best way to secure" its future.

It is believed that 28 per cent of the team will be issued on the Frankfurt Stock Exchange later this month, with Sir Frank Williams to remain in charge as the majority shareholder.

Hinwil based Sauber has also been working to re-establish its footing for the future, after former owner BMW's withdrawal and the failed sale to Qadbak.

Peter Sauber has admitted he does not want to still be on the pitwall when he turns 70 in a few years, but on Friday he seemed to rule out following Williams into the stock market.

"I honestly have to say that I don't understand the reasons behind going public. That's all I have to say," he told F1's official website.

It might be said that Sauber has ruled out selling shares to the public because new sponsor Telmex, headed by billionaire Carlos Slim, might be looking to take over the team.

But Peter Sauber insisted: "I don't think so. It was never the plan that Carlos Slim would get directly involved with the team.

"And to be honest I feel pretty good knowing that 100 per cent of the team is with me again," he added.

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About this article
Series Formula 1
Drivers Peter Sauber , Frank Williams
Teams Sauber , Williams